The popular Ikosi-Ketu Fruit Market in Ketu area of Lagos, has on Friday been demolished to give way to a modern market in the area.
AN24 understands that the contract for the reconstruction of the market has been awarded to Total Value Integrated Service Limited.
About N2.8 billion is said to have been committed to build a more modern market.
It was learnt that at about 10: 00 am when bulldozers which were, escorted by policemen was a feeble resistance from touts in the area. But the policemen were able to quell the resistance with the use of tear gas.
AN24 gathered that some of the traders lost that their goods in the exercise as they said they were not sufficiently reminded of the demolition though they admitted they had been pre-informed some weeks before the exercise.
The Managing Director, Total Value Integrated Service Limited, Chris Onyekachi, however, said the traders were sufficiently informed.
“We gave them notice three weeks ago which has expired and we gave them another seven days notice to move their wares to other areas of the market. They are aware,” he said.
“We held meetings with the Iya Olojas, Baba Olojas and we agreed on the mode of demolition. Some people kicked against it and because we want peace to reign, we met with the obas and we saw reasons why the market should be reconstructed. Some miscreants don’t want the redevelopment. We are not interested in chasing people away from the market. Those who own shop earlier will be considered first in re-allocation at a discounted rate.
“We want to upgrade the market to meet the Lagos mega city standard and we are doing it in phases. We will not shut the whole market. The development will be in four phases and the market occupies 25 acres. We have 18 month duration to rebuild the market and we will invest about N2.8 billion in the reconstruction. The reconstruction of the first phase will begin in January,” he said.